Our savings accounts come in many flavours.

A limit of one new iSaver account receiving the introductory bonus fixed rate per membership (including joint accounts). Applies to balances up to $250,000.00. After six months the introductory rate will revert to the base variable rate. Does not include funds held, or previously held with Defence Bank.

If a deposit is made during the month where no withdrawals are made by the end of the month, the bonus rate at the time also applies to the balance for that month.

Interest is calculated daily on the closing balance and credited on the last day of February, May, August and November each year. The first $50,200.00 earns interest at the lower interest rate regardless of account balance.

Product available only for members who meet an Australian Defence Force milestone (within 12 months) listed in our Defence Bank Product and Services - Condition of Use. The fixed bonus rate applies for the first 12 months. The base variable rate applies for any amount after 12 months. The base rate also applies for any amounts above $250,000 during the first 12 months. After 12 months the fixed bonus rate will revert to the base variable rate. As at 20 February 2023, the balance cap for the bonus fixed rate to new account holders has been raised from $100,000 to $250,000. If you opened an account prior to 20 February 2023, the bonus fixed rate applies to balances up to $100,000.

When you open a Salute account we will pay you a bonus fixed rate of interest on monies deposited in the Salute account for a promotional period (currently 12 months) provided you make minimum deposits to an Everyday Access account each month (current minimum is $1,500.00 per month).